Yes.
As far as the invincibility thing goes (the question was how to remove the invinc period at the start of the stage), you can open th06.exe in a hex editor, and at address 0x24206 change the three bytes 2B 45 08 to 83 E8 78. This will change the death and stage start invincibility periods to just be one or two frames long.
Alternatively to make yourself invincible change it to 83 E8 00.